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10-29-2014, 02:14 PM #1
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- Join Date
- Oct 2014
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Refrigeration Company Payoff or 2nd Position- 2.2 Million Annual Revenue
I have a merchant who owns a refrigeration company I am currently working with that just got an advance for $192,000 about 3 months ago at a 1.44 factor rate. His gross annual revenue is about $2.2 million.
Now what he would like to do is payoff the current advance(He was given a pre-payment addendum) and net a little extra capital on top at a lower factor rate than 1.44. I realize this is a long shot because the amount that would need to be paid off would be around 200k.
If this is not possible, he would also take a second position, but would have to beat a 1.44 factor rate.
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